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Truck Leasing Pros and Cons Espanola NM

A truck lease offers cost advantages for personal use, as well as tax and accounting advantages for business owners. Learn the difference between personal and commercial truck leasing.

Uhaul Co.
(505) 747-7262
2208 N Riverside Dr
Espanola, NM
Bienvenidos Self Storage
(505) 753-8212
1544 A USHighway 285-84
Espanola, NM
Gils Rentals
(505) 753-2833
1900 North Riverside Drive
Espanola, NM
Total Secure Towing Service
(505) 753-9144
Chama Highway
Espanola, NM
F And A Zip Car Wash And Self Storage
(505) 753-9274
626 La Joya Street
Espanola, NM
Seeds Freddie
(505) 753-9144
1505 North Paseo De Onate
Espanola, NM
Mesilla Self Storage
(505) 753-2502
24 Circle 27
Espanola, NM
Apple Valley Mobile Home Park And Self Storage
(505) 753-7887
606 North Railroad Avenue
Espanola, NM
Southwest Furniture Outlet
(505) 753-8212
1544 USHighway 285-84
Espanola, NM
Best Way Land
(505) 753-4400
616 South Riverside Drive
Espanola, NM

Truck Leasing Pros and Cons

To lease a truck for personal use is no different than leasing a car or SUV. A lease offers lower monthly payments than buying with a loan, and may not require a down payment. There are also savings on sales tax in most states. Therefore, leasing may cost you less to get into a new truck, and can save you on monthly cost as well.

However, before making a decision about whether to lease or buy, understand that leasing is best for people who drive no more than about 15,000 miles per year, like to have a new truck every 3-4 years, take good care of their vehicles, don't care about building ownership equity, and have a stable lifestyle such that they won't need to end the lease early.

Ending a lease early can be very expensive. It's more than simply paying termination fees. It means paying the balance of the lease, considering the wholesale auction value of the truck. In most cases, ending a lease early is very impractical. Therefore, if you think you might not be able to complete a lease, then don't lease.

If you plan on using your truck for heavy duty or rough utility purposes, such that the body and bed might be badly damaged or scratched, you might not want to lease. The reason is you may have to pay for those damages at lease-end when you return your truck to the lease company. Any damages beyond "normal" wear and tear can result in charges to you. Of course, you could get the repairs done yourself prior to returning your leased truck. Or...

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